ITAT partially allowed the assessee's appeal regarding deduction ...

Tribunal Grants Partial Relief in Tax Deduction and Expense Allocation for Bio-Fertilizer Business Under Sections 80JJA and 14A

May 17, 2025

Case Laws Income Tax AT

ITAT partially allowed the assessee's appeal regarding deduction u/s 80JJA and expenses allocation u/s 14A. The Tribunal directed the AO to re-examine the five-year deduction period for bio-fertilizer business and verify asset and expense allocations between agricultural and non-agricultural activities. Specifically, the Tribunal upheld proportionate allocation of employee benefit expenses, deleted finance cost allocation, and directed detailed verification of depreciation and other expenses related to agricultural operations. The appeal was allowed for statistical purposes with specific directions to the Assessing Officer for further examination and re-assessment.

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ITAT partially allowed the assessee's appeal regarding deduction ...

Tribunal Grants Partial Relief in Tax Deduction and Expense Allocation for Bio-Fertilizer Business Under Sections 80JJA and 14A

May 17, 2025

Case Laws Income Tax AT

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